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TOURIST DEVELOPMENT IN THE NORTH CAUCASUS - RUSSIAN FEDERATION
07/23/2012

 

On the occasion of the Russia visit by Italy's Prime Minister Mr Mario Monti, Rizzani de Eccher and Northern Caucasus Resort Company (NCRC - the Russian Federation body entrusted with the development of tourism in the Northern Caucasus Federal Republics) signed a letter of intent concerning the intervention of Rizzani de Eccher in the construction and development of tourist resorts in the area.
The entire project calls for the full infrastructure development from scratch of five winter sports resorts, situated in as many republics of the north side of the mighty Caucasus mountains, from the Black Sea to the west (where lies Sochi, venue of the 2014 Winter Olympics) to the Caspian sea to the east.
The project, with an investment budget of USD 30 billion, will involve players from all over the world in their field of specialisation (financial institutions, real estate development, design, building, transportation, hospitality).
For the time being, Rizzani de Eccher will focus on the development of one of the five resorts, with planned construction works for a budget of about USD 1 billion.

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